London close: Markets unfazed by Osborne's budget
5th Dec 2012 17:10
- Miners gain on Chinese optimism - OBR cuts GDP forecasts - US ISM data lifts markets in afternoon trade The Footsie finished the day with decent gains on Wednesday as investors mostly shrugged off Chancellor George Osborne's budget statement, with the upbeat mood helped by economic data from the
Read moreFTSE 100 movers: Miners lead the way
5th Dec 2012 15:16
Mining stocks were performing well today on increasing optimism about China; Vedanta, Kazakhmys, Anglo American and Rio Tinto were all making decent gains. Precious metals giant Polymetal also advanced after saying it was giving $191m dollars back to shareholders by way of a special dividend. Su
Read moreLondon midday: Tesco and miners gain ahead of UK budget
5th Dec 2012 11:40
The FTSE 100 had come off its earlier highs but was still trading in positive territory by Wednesday lunchtime, as markets await the Autumn Statement from Chancellor of the Exchequer George Osborne. He is set to say: "In this Autumn Statement, we show that this coalition government is confronting t
Read moreBroker tips: Tesco, HSBC, Tullow Oil
5th Dec 2012 11:16
Nomura has cut its forecasts for supermarket giant Tesco on the back of a weaker trading in Europe, but has maintained its 'buy' rating, hailing the group's strong UK grocery performance. The broker also said that the company's strategic review in the US "points to a management team willing to act
Read moreBroker snap: HSBC could lift divi after Ping An sale, says Investec
5th Dec 2012 09:09
Investec has reiterated its 'buy' rating for global banking giant HSBC, saying that the disposal of its stake in Chinese insurer Ping An could bode well for the 2012 dividend. HSBC owns a 15.57% stake in Ping An, China's second-largest insurance firm by assets, and is selling its interest to a Thai
Read moreLondon open: Stocks rise ahead of Osborne's Autumn Statement
5th Dec 2012 08:29
Equity markets rose on Wednesday morning after strong gains for Asian markets overnight with the focus in the UK turning to George Osborne ahead of his budget statement. "In a week dominated by Europe and the on-going to-ing and fro-ing in the US with respect to the fiscal cliff, markets will be tu
Read moreHSBC offloads Ping An stake for over nine billion dollars
5th Dec 2012 07:20
Global banking giant HSBC is to receive over nine billion dollars from the sale of its stake in Chinese insurance giant Ping An Insurance, the company announced on Wednesday morning. HSBC owns a 15.57% stake in Ping An, China's second-largest insurance firm by assets, and is selling its interest to
Read moreWednesday broker round-up UPDATE
5th Dec 2012 07:19
Anglo American: Morgan Stanley reduces target price from 2110p to 1802p and keeps an equal weight rating. Brewin Dolphin Holdings: Peel Hunt raises target price from 185p to 230p and maintains a buy rating. British Sky Broadcasting Group: Nomura raises target price from 950p to 975p and reiterates
Read moreTuesday broker round-up UPDATE
4th Dec 2012 07:35
Anite: Panmure Gordon moves target price from 163p to 165p; buy recommendation kept. Canaccord Genuity raises target price from 143p to 169p and maintains a buy recommendation. Ashtead: Seymour Pierce raises target price from 400p to 460p and reiterates its buy recommendation. Barclays: Credit Sui
Read moreLondon midday: Markets rise after manufacturing data
3rd Dec 2012 11:35
- Chinese and Indian PMIs improve - UK manufacturing PMI beats forecasts - Miners provide a lift in London The Footsie had held on to gains by Monday lunchtime after some decent manufacturing figures from China and India, though the mood was cautious on the back of uncertainties surrounding the US
Read moreLondon close: Stocks end the week in a cautious mood
30th Nov 2012 16:35
- Market pares gains by the close - Bundestag approves Greek aid - Eurozone jobless rate and US consumer spending disappoint UK stocks finished broadly flat on Friday, paring gains by the close of trade as markets headed into the weekend in a cautious mood on the back of uncertainty surrounding the
Read moreFTSE 100 movers: Broker upgrades lift Johnson Matthey and Croda
30th Nov 2012 13:25
Blue-chip constituents Johnson Matthey, Croda, Pennon and Intertek were performing well on Friday afternoon following a number of upbeat broker comments. Chemical peers Johnson Matthey and Croda International were lifted higher after Credit Suisse upgraded the companies from 'neutral' to 'outperfor
Read moreRBS exits India to shrink non-core assets
30th Nov 2012 09:12
Royal Bank of Scotland (RBS) is no longer selling its Indian retail and commercial banking operations to HSBC. Instead, it will be winding down what was a profitable business. RBS agreed to sell the business to HSBC in July 2010, but the deal lapsed on Friday November 30th. The Indian operations ar
Read moreLondon close: Stocks rebound as 'Glenstrata' deal pushed through
20th Nov 2012 16:32
- Xstrata shareholders approve merger with Glencore - Hamas official says ceasefire has been agreed - Eurogroup meeting on Greece kicks off in Brussels After a poor start on Tuesday, UK stocks rallied in afternoon trade to finish broadly flat after shareholders approved the merger between FTSE 100
Read moreFTSE 100 movers: Xstrata rises on merger agreement
20th Nov 2012 16:04
Xstrata shares have jumped after the company's shareholders gave their approval on a merger between it and commodities trading giant Glencore, sealing the deal on what has been 10 months of discussions. However, investors voted against the controversial retention package for its managers. Fashion c
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